But Daimler, the owner of Mercedes-Benz, said this year’s earnings from car sales were expected to be “slightly below the previous year”.

“From today’s perspective, the decisive factor is that, at Mercedes-Benz Cars, fewer than expected SUV sales and higher than expected costs – not completely passed on to the customers – must be assumed because of increased import tariffs for US vehicles into the Chinese market,” the company said.

“This effect cannot be fully compensated by the reallocation of vehicles to other markets.”

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